Securities

MONTGOMERY, Ala. (AP) — The U.S. Securities and Exchange Commission on Thursday accused an Alabama attorney of bilking millions of dollars from professional athletes and others who invested in his companies, saying he instead used the money on personal expenses.

The civil complaint filed in federal court in Atlanta says Donald V. Watkins and his companies falsely told investors that their funds would be used to support waste-to-energy ventures and that a prominent national company, Waste Management, was seriously interested in acquiring the businesses. A total of $6 million was raised from investors, many who were current and former pro football and basketball...

Related "Securities" Articles

MONTGOMERY, Ala. (AP) — The U.S. Securities and Exchange Commission on Thursday accused an Alabama attorney of bilking millions of dollars from professional athletes and others who invested in his companies, saying he instead used the money on personal...

KANSAS CITY, Mo. (AP) — A former Monsanto Co. financial executive who tipped off regulators about the agribusiness giant's accounting practices involving rebates for its Roundup weed-killer will get nearly $22.5 million as a whistleblower, federal...

BUENOS AIRES (AP) — A judge is seeking to revive an investigation into former President Cristina Fernandez over an alleged cover-up on behalf of Iranians suspected in the 1994 bombing of a Jewish community center in Argentina's capital.
Judge Claudio...

SHANGHAI (AP) — In 2011, a respected anti-counterfeiting coalition in Washington escalated its fight against the Chinese e-commerce giant Alibaba, saying its websites served as a 24-hour market "for counterfeiters and pirates" and should be...

Two Escondido business partners must disclose key information about past transgressions when selling stock in their educational companies to investors, says an order released Monday by the California Department of Business Oversight.
The order says...

WASHINGTON (AP) — U.S. stock exchanges will have to keep a closer eye on their electronic trading systems under rules adopted by federal regulators.
The Securities and Exchange Commission voted 5-0 Wednesday to require routine testing of exchanges'...

WASHINGTON (AP) — Below is the statement the Fed released Wednesday after its policy meeting ended:
Information received since the Federal Open Market Committee met in September suggests that economic activity is expanding at a moderate pace. Labor...

WASHINGTON (AP) — The brother of a jailed former hedge fund boss will be barred for at least five years from the securities industry and pay about $841,000 to settle a civil insider trading case against him.
The Securities and Exchange Commission...

NEW YORK (AP) — The director of market intelligence at an investor relations firm was arrested on insider trading charges Tuesday and accused of using drafts of press releases to illegally earn nearly a million dollars.
Michael Lucarelli, 51, was a...

WASHINGTON (AP) — Bank of America has reached a record settlement of nearly $17 billion to resolve an investigation into its role in the sale of mortgage-backed securities before the 2008 financial crisis, officials directly familiar with the matter...

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US agency moves slowly on investigation requests
DETROIT (AP) — People are waiting longer than they should for an answer when they petition the government to open an investigation into what could be serious safety problems.
The Associated Press...

LOS ANGELES (AP) — A San Francisco man was sentenced Thursday to three months in federal prison for using insider information five years ago to profit off The Walt Disney Co.'s $4 billion purchase of Marvel Entertainment.
Toby G. Scammell was also...

WASHINGTON (AP) — Below is the statement the Fed released Wednesday after its policy meeting:
Information received since the Federal Open Market Committee met in June indicates that growth in economic activity rebounded in the second quarter. Labor...

GENEVA (AP) — Switzerland's biggest bank, UBS, reported Tuesday a 15 percent rise in second-quarter profit, driven by its core wealth management business, and disclosed it was part of a group of financial companies being investigated over alternative...

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US economy, though sluggish, may now be sturdier
WASHINGTON (AP) — Out of a seemingly hollow recovery from the Great Recession, a more durable if still slow-growing U.S. economy has emerged.
That conclusion, one held by a growing number of...

NEW HAVEN, Conn. (AP) — A federal judge sentenced a former Wall Street trader to two years in prison on Wednesday for securities fraud, saying he took advantage of a government bailout program.
The judge also fined Jesse Litvak $1.75 million.
"This...

WASHINGTON (AP) — Ernst & Young has agreed to pay $4 million to settle civil charges of compromising its independence by lobbying Congress on behalf of two companies whose books it audited.
The Securities and Exchange Commission announced the...